Centiva Capital LP Has $470,000 Holdings in Dropbox, Inc. (NASDAQ:DBX)

Centiva Capital LP decreased its stake in Dropbox, Inc. (NASDAQ:DBX) by 76.3% during the 4th quarter, HoldingsChannel reports. The fund owned 15,637 shares of the company’s stock after selling 50,342 shares during the period. Centiva Capital LP’s holdings in Dropbox were worth $470,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of DBX. EverSource Wealth Advisors LLC lifted its position in Dropbox by 96.1% in the fourth quarter. EverSource Wealth Advisors LLC now owns 865 shares of the company’s stock worth $26,000 after purchasing an additional 424 shares during the period. Avion Wealth lifted its holdings in shares of Dropbox by 4,472.7% during the 4th quarter. Avion Wealth now owns 1,006 shares of the company’s stock worth $30,000 after acquiring an additional 984 shares during the period. SBI Securities Co. Ltd. acquired a new stake in shares of Dropbox during the 4th quarter valued at about $40,000. Allworth Financial LP increased its stake in Dropbox by 33.5% in the fourth quarter. Allworth Financial LP now owns 1,456 shares of the company’s stock valued at $45,000 after acquiring an additional 365 shares during the period. Finally, Huntington National Bank raised its position in Dropbox by 768.9% in the fourth quarter. Huntington National Bank now owns 1,538 shares of the company’s stock worth $46,000 after purchasing an additional 1,361 shares in the last quarter. Institutional investors own 94.84% of the company’s stock.

Dropbox Trading Down 0.8 %

Shares of Dropbox stock opened at $29.46 on Friday. Dropbox, Inc. has a 1-year low of $20.68 and a 1-year high of $33.33. The firm’s 50-day moving average price is $27.08 and its two-hundred day moving average price is $28.54. The stock has a market capitalization of $8.89 billion, a price-to-earnings ratio of 20.89, a P/E/G ratio of 1.70 and a beta of 0.68.

Dropbox (NASDAQ:DBX) last released its quarterly earnings results on Thursday, May 8th. The company reported $0.70 earnings per share for the quarter, beating analysts’ consensus estimates of $0.62 by $0.08. The firm had revenue of $624.70 million during the quarter, compared to analysts’ expectations of $619.56 million. Dropbox had a negative return on equity of 132.63% and a net margin of 17.75%. The business’s revenue was down 1.0% on a year-over-year basis. During the same period last year, the firm posted $0.58 EPS. As a group, equities research analysts predict that Dropbox, Inc. will post 1.64 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. UBS Group upped their price objective on Dropbox from $30.00 to $31.00 and gave the company a “buy” rating in a research note on Friday. Citigroup upped their price target on Dropbox from $30.00 to $32.00 and gave the company a “neutral” rating in a research report on Friday.

Insider Activity at Dropbox

In related news, insider Eric Cox sold 3,765 shares of Dropbox stock in a transaction dated Thursday, February 27th. The stock was sold at an average price of $26.30, for a total value of $99,019.50. Following the completion of the sale, the insider now directly owns 309,550 shares in the company, valued at $8,141,165. This trade represents a 1.20 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Timothy Regan sold 2,500 shares of the company’s stock in a transaction dated Wednesday, April 30th. The shares were sold at an average price of $28.29, for a total transaction of $70,725.00. Following the transaction, the chief financial officer now owns 562,568 shares in the company, valued at approximately $15,915,048.72. The trade was a 0.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 11,265 shares of company stock valued at $303,520 over the last ninety days. 29.95% of the stock is owned by insiders.

Dropbox Profile

Dropbox, Inc provides a content collaboration platform worldwide. The company's platform allows individuals, families, teams, and organizations to collaborate and sign up for free through its website or app, as well as upgrade to a paid subscription plan for premium features. It serves customers in professional services, technology, media, education, industrial, consumer and retail, and financial services industries.